WATERTOWN — Sixty three Bed Bath & Beyond stores across the country are slated to close by the end of this year, and the city’s Towne Center Drive location is on the list.
Bed Bath & Beyond Inc. announced more than two months ago that the company plans to close 200 stores over the next two years, according to a story published Friday by USA TODAY. The locations of the first 63 stores to shutter were revealed exclusively to USA TODAY on Friday by the New Jersey-based home goods retailer.
“In this COVID moment, we believe we can take this opportunity to not just simply close stores, but to pivot and reshape and truly optimize our store footprint,” John Hartmann, the company’s chief operating officer and executive vice president said in USA TODAY’s story.
According to the USA TODAY story, company officials announced plans in October 2019 — pre-coronavirus pandemic — to close 60 stores across all of its “concepts.” In January, company officials said 20 of the 40 Bed Bath & Beyond stores to close would be delayed until the first half of the year, but the number increased to 200 locations in July. This makes up about 21% of the company’s namesake stores.
Bed Bath & Beyond CEO Mark Tritton said closing 200 locations would save the company between $250 million and $350 million annually after one-time costs, according to USA TODAY’s story.
According to the same USA TODAY story, as of May 30, the company had 1,478 stores, including 955 Bed Bath & Beyond stores nationwide and in Canada.
Stores across 29 states are set to close. New York and California are losing the most stores — six locations each.
In addition to the Watertown location, the other five New York state Bed Bath & Beyond locations set to close this year are: 40-24 College Point Blvd., Flushing; 410 E. 61st St., New York; 3349 Monroe Ave., Rochester; 2700 Veterans Road West, Staten Island; and 3597 W Genesee St., Syracuse.